Well, if Live Nation can have a ticketing business, why can't Ticketmaster have an artist management company? Answer me that.
With live music conglom and former client Live Nation about to tread on its natural territory big time by launching its own rival ticketing enterprise, ticketing major Ticketmaster yesterday announced it had acquired a controlling interest in Front Line Management, one of the world's biggest artist management companies.
Ticketmaster will buy Warner Music's 30% stake in Front Line for a reported $123 million, as well as entering into some sort of slightly complicated share exchange with the management firm's founder Irving Azoff.
As a result of the deal Ticketmaster will change its name to Ticketmaster Entertainment. Azoff will become CEO of the newly expanded company, while current Ticketmaster chief Sean Moriarty will be President of the whole operation, and CEO of its ticketing division.
With Live Nation busily diversifying into other areas of live and music entertainment, the Front Line deal sees Ticketmaster cement its ambitions to also become a multi-pronged music and entertainment company.
Front Line manage some of the US's biggest touring artists, including Eagles, Neil Diamond, Van Halen, Fleetwood Mac, Christina Aguilera, Stevie Nicks, Aerosmith and Guns N' Roses. Some of those have, in the past, worked with Live Nation on their live activity. Front Line has always had a policy of allowing individual managers to determine which promoters and ticket agencies their artists work with, so it's unlikely the firm's new partnership with Ticketmaster will automatically tie their artists to Ticketmaster's ticketing division, or bar them from working with competitors Live Nation, though the alliance is presumably a strategic move to counter Live Nation's growing dominance in the wider live music industry.
Confirming the deal, Ticketmaster Chairman Barry Diller told reporters: "While the Ticketmaster name has been synonymous with live entertainment for some time, today we took a significant step in solidifying our position in the music business. And, we will greatly benefit in having Irving Azoff lead Ticketmaster. In joining with the excellent Ticketmaster management of Sean Moriarty, Terry Barnes, and Eric Korman, we'll have a superb group of executives capable of growing the company every which way".
Azoff added: "Front Line and its artists have never had a better partner than Ticketmaster and Barry Diller. Now we have the opportunity to redefine the business at a time of great change and opportunity. Consumers, artists, teams and venues will all benefit from this exciting new Ticketmaster Entertainment platform going forward. I can't wait to create the future of the business with my new senior colleagues at Ticketmaster, Sean Moriarty, Terry Barnes, and Eric Korman".